M/S. Elegant Medical Systems v. Sir. M. Visvesvaraya Co. Operative Bank Ltd.
Case brief
What is this about?
Withdrawal on settlement: Karnataka HC single-judge oral order (Justice Ashok S. Kinagi, 19-02-2026) dismissing WP 5347/2026 (GM-DRT) as withdrawn after petitioners (Elegant Medical Systems; Kabir Das R; V. Rajamanickam; Vittals Medicare Pvt Ltd) reported settlement with respondent Sir M. Visvesvaraya Co Operative Bank Ltd. Petition had sought quashing of possession notice and e-auction sale notice dated 14-01-2026 issued under Rule 8(6) read with Rule 9, Security Interest (Enforcement) Rules, 2002; filed under Articles 226/227. Keywords: secured creditor enforcement, co-operative bank, e-auction sale notice, possession notice, out-of-court settlement, withdrawal, pending IAs disposed, NC: 2026:KHC:10566. No adjudication on merits; no cases cited; not suitable for doctrinal citation.
What did the court decide?
Leave to withdraw the writ petition (effected by dismissing the petition as withdrawn following the reported settlement); no substantive relief granted.